Acrylic Aspheric Intraocular Lens (IOLs) Market

ACRYLIC ASPHERIC INTRAOCULAR LENS MARKET REPORT OVERVIEW

The global Acrylic Aspheric Intraocular Lens (IOLs) Market Size was USD 4777.89 million in 2024 and the market is projected to touch USD 6767.93 million by 2031, exhibiting a CAGR of 5.10% during the forecast period.

An aspheric IOL is a monofocal lenses that is used for spherical aberration correction. The IOL is used for the correction of various types of eyesight problems. The increasing prevalence of cataract has surged the demand for these procedures, coupled with significantly advanced product launches together contributing to market growth.

Besides, increasing government support and favorable compensation policies have provided an impetus for patients to undergo cataract surgery. This scenario has surged the adoption of these products. There are several initiatives taken by the government to reduce the backlog of cataract surgeries. As well as campaigns for eye care awareness in major countries provide opportunity for the market growth.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic affected every sector of the industry so as it badly impedes the market growth due to an inclusive drop in the cataract and glaucoma surgical procedures because of the reduction in the number of visitors. Due to the restriction and lockdown fear many patients avoid going to the ophthalmologist. However, the increased adoptions of advanced products offerings and rise in the number of patient visits to ophthalmologists have restarted the market and allow the market to grow.

The global market witnessed numerous technologically advanced product offerings. The rising incidence of cataract has increased the need for these products. Furthermore, numerous advanced studies are being undertaken to explore the benefits of these newer technologies

ACRYLIC ASPHERIC INTRAOCULAR LENS MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Acrylics (Hydrophilic), Acrylics (Hydrophobic)

• Acrylics (Hydrophilic): This type of IOLs has higher water content and a lower refractive index relative to hydrophobic acrylic IOLs. It minimizes the glare, unwanted visual phenomena and external and internal reflections.
• Acrylics (Hydrophobic): This type of IOLs are generally foldable, have rather low water content and a high refractive index. It is considered as the most popular type of IOL materials.

By Application

Based on application the market can be categorized into Public Hospital, Private Hospital

• Public Hospital: Public hospitals cater to patients who rely on government-funded healthcare services. In the public hospitals, these lenses are used to treat patients with cataracts or refractive errors.
• Private Hospital: Private hospitals serve patients seeking specialized or exclusive healthcare service and technology. They use these lenses to provide advanced and precise vision correction surgeries.

"Increasing Cataract Surgeries Increases the Market Extremely"

This is one of the driving factors for the Acrylic Aspheric Intraocular Lens (IOLs) Market Growth due to rising in the number of cataract surgeries. As the number of surgeries has increased, the need for these lenses has increases as a result the market growth has opportunity to increase. With the increasing incidence of blindness and cataract is increased which is also one of the primary reason for the market expansion, opens the door for companies to expand.

"Government Initiatives to eradicate Cataract Encourages the Market Growth"

The rising occurrence of cataracts poses an economic and healthcare problem in numerous countries. For eliminating the issues, the government has done many initiatives. These initiatives are such as favorable reimbursement policies, eye checkup camps, and other measures. Thus, the development of such initiatives will firmly propel the market growth.

"Lack of Compensation Policies Hinder the Market Growth"

One of the restraining factors for the slow growth of market growth is the lacking of compensation policies by the government on treatment and for premium products, especially in emerging countries. These premium products are useful for indications of issues such as cloudy vision and vision loss, nearsightedness, farsightedness. A significant section of the population is unaware of these premium product options in the developed and emerging countries.

ACRYLIC ASPHERIC INTRAOCULAR LENS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominates the Market due to Existence of Advanced Healthcare"

The North America region is dominating the Acrylic Aspheric Intraocular Lens (IOLs) Market Share due to the existence of advanced healthcare infrastructure and the rising incidence of cataract surgeries. The substantial demand for novel products such as custom cataract lenses, rapid adoption of these products, and favorable insurance policies. Moreover, regulatory approvals for these innovative products by the government contribute to increasing the market in this region.

Many prominent industry players are operating in this market focused on increasing their market presence through advanced launches and strategic initiatives. However, there are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.

• Alcon (Switzerland)
• Johnson & Johnson Vision (U.S.)
• Carl Zeiss AG (Germany)
• HOYA (Japan)
• Bausch + Lomb (Canada)
• Biotech Healthcare ((Switzerland)
• Eyebright Medical Technology (China)
• Lenstec (U.S.)
• Haohai Biological Technology (China)
• Ophtec (Netherlands)
• Aurolab (India)
• NIDEK CO., LTD. (U.S.)
• HumanOptics (Germany)
• Wuxi Vision Pro Ltd (China)
• Ordinaire (U.S.)
• Eyedeal (China)

September 2022: SIFI S.p.A launched Evolux extended monofocal intraocular lens. The product is based on a hydrophobic material and a non-diffractive profile to provide better intermediate and equivalent distance vision.

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global acrylic aspheric intraocular lens (IOLs) market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.